BUFFALO, N.Y.--(BUSINESS WIRE)--Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate
investment trust (REIT), announced the acquisition of 19 self storage
facilities for a total cost of approximately $130 Million. Sixteen
stores were purchased on behalf of the Company for a cost of $96 million
and the balance was acquired for Sovran HHF Storage Holdings LLC, a
joint venture in which the Company owns a 20% interest.

The properties, purchased during the 2nd quarter of 2014,
total approximately 1.3 million square feet. All are located in markets
where the company already has a presence: seven in New Jersey; seven in
St. Louis; and one each in Metro New York, Philadelphia, Atlanta,
Chicago, and San Antonio.

“This is a terrific group of stores. They fit our strategy of acquiring
good properties in quality markets in which we can apply our marketing
and management platforms to add significant value,” said David Rogers,
the Company’s Chief Executive Officer. “They are great additions to the
Uncle Bob’s brand.”

The properties, acquired in eight different transactions, were funded
with the remaining funds from the company’s $175 million 10-year term
note issued in April, proceeds from the Company’s ATM program and
advances on the Company’s line of credit.

Each of the self storage facilities will be rebranded under the Uncle
Bob’s Self Storage® name and fully integrated into the Company’s
operating platforms. The Company now operates over 500 self storage
facilities in 25 states.

About Sovran Self Storage, Inc.

Sovran Self Storage, Inc. is a self-administered and self-managed equity
REIT that is in the business of acquiring and managing self storage
facilities. The Company operates 501 self storage facilities in 25
states under the name “Uncle Bob’s Self Storage”®. For more
information, visit www.unclebobs.com,
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